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This is the first book that INSOL International has published that covers tax issues. We have accepted that in most countries tax issues and tax treatments change constantly and that tax laws are changing sooner than some of the other laws. We decided however not to be deterred by these constant changes and move on to produce this book as INSOL’s objective was wider. The book aims to provide...

View or download below the first published edition of the INSOL Global Principles for Multi-Creditor Workouts. The Principles represent the culmination of almost 5 years work on the part of the INSOL Lenders Group and they are to be congratulated on producing what will be a major contribution to the reorganisation of financially troubled...

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India's Central Bank Announces New Bad-Loan-Resolution Framework

India’s central bank late on Monday tightened its rules around bank loan defaults, seeking to push more large loan defaulters toward bankruptcy courts and abolishing half a dozen existing loan-restructuring mechanisms, in its latest bid to accelerate resolution of the bad loans problem at Indian banks, Reuters reported. The new set of rules are aimed at creating a “harmonised and simplified generic framework” for resolution of stressed assets in view of new bankruptcy regulations, the Reserve Bank of India (RBI) said late on Monday. After enacting its first comprehensive bankruptcy regime in 2016, India last year gave the central bank more powers to push lenders to deal with the nearly $150 billion in troubled debt at banks, which has stymied new lending and slowed economic growth. Last year, the RBI ordered banks to force roughly 40 of the biggest corporate loan defaulters into bankruptcy proceedings. The new system will force lenders to identify and tackle any stressed-asset accounts more rapidly, the regulator said. Read more.